Michael Jackson Advisor turns over 5.5 million dollars

story by AP

written by LINDA DEUTSCH and ANTHONY McCARTNEY

LOS ANGELES – A former financial advisor to Michael Jackson said Friday that he was the person who recently turned over to executors $5.5 million, which had been "a secret between Michael and me."

Dr. Tohme Tohme responded to an inquiry from The Associated Press about documents in which administrators of the estate said they had recovered $5.5 million and substantial amounts of personal property from an unnamed former financial adviser.

"It was not recovered," he said. "I had the money and I gave it to them. It was a secret between Michael and me."

He said the money, which came from recording residuals, was earmarked by Jackson for the purchase of what was to be his "dream home" in Las Vegas. He said he was in negotiations for the home when Jackson died.

"He said, 'Don't tell anyone about this money,'" Tohme recalled. "But when he passed away I told them I had this money, and I gave it to them."

He said he also turned over a large number of items from Jackson's Neverland estate that were once scheduled to be auctioned. When Jackson decided to call off the auction, Tohme said he had everything put into storage. He said he turned over that personal property to the executors as well.

Tohme is the financier who advised Jackson during the last year and half of his life and was instrumental in saving Neverland from foreclosure. He also was a key figure in negotiating the contracts for Jackson to do a series of comeback concerts in London.

The estate's receipt of the money was revealed in court documents released Friday.

Attorney John Branca and music executive John McClain are serving as temporary administrators as spelled out in the King of Pop's will. The men are finishing several deals that they expect will generate "tens of millions of dollars of revenues."